High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
This is how the market behaves in an easing cycle
None of how the market is acting today in reaction to the lack of a strong 50 basis point signal from Waller should be a surprise.Here is what I wrote back in June:It's been awhile since we've had a 'normal' rate cutting cycle so it's worth a reminder about what...
Brent crude closes at the lowest since 2021. Where is it adjusted for inflation?
WTI crude is still clinging to support but the picture is looking increasingly dire for brent. The global benchmark closed today at the lowest since December 2021.There have been a series of daily lows right around these levels and there are intraday lows that are...
The bitcoin chart isn’t looking pretty after a $2500 decline today
bitcoin dailyThere aren't many charts more technical than bitcoin and with today's 4.5% decline, it's sending all the wrong signals.It's only been below these levels for a few hours over the past six months and the last time it was here it was flushed down to $50,000...
The Fed is in a tricky spot – CIBC
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USDJPY moves lower to test the August low and finds support buyers.
The USDJPY has seen up and down volatility after the US jobs report and subsequent market volatility. The tumble in US stocks and move lower in yields may have an influence as well as sellers pushed the price lower. Technically however, the low price today at 141.75,...
Oil falls to the lowest in a year
WTI crude oil dailyThe oil market hasn't spent much time under $70 in the post-pandemic period but after five days of heavy selling, it's now at $67.29, which is the lowest since June of 2023.Last year we saw several dips down into this range that were all bought,...
Australian dollar tumbles to the lowest since August 19. Carves out H&S top
AUD/USD dailyThe Australian dollar chart has caught my attention today as it falls 76 pips, or 1.1%. It's the underperformer today as the US dollar strengthens broadly and risk trades are beaten up.A week ago, it looked like it could be breaking out as it touched the...
NZDUSD falls to the 100 bar MA on the 4-hour chart
The NZDUSD has moved higher. It is now moving lower in volatile trading as it digests the US jobs report and comments from Fed officials this morning including Feds Waller, Feds Goolsby, and Feds Williams. Stocks are moving lower which is leading to some risk off in...
US dollar jumps as the odds of a 50 basis point cut dwindle
It's been a ride today between a mixed non-farm payrolls report and Fed commentary.With the cards now all on the table, the market is shifting away from 50 basis points. Odds are down to 23% from as high as 57% in the immediate aftermath of the jobs report.At the same...
Fed’s Goolsbee: Critical challenge is not letting things turn into something worse
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Waller Q&A: Forecasts could be wrong, must be nimble as data comes in
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
USDCAD extends to the next upside target
The USDCAD has moved to a new high and reach the next technical target at 1.35535 (see, mom months absent concepts and). THe price has not been above that moving average since August 7 nearly one month ago. A break above that level would have traders looking toward...
WSJ’s Timiraos: Waller does not explicitly say “25” or “50”, but leans to 25.
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FOMC Waller : Time has come to begin reducing. Labor market softening/not deteriorating
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
More from Fed’s Williams: Not quite ready to say how big first rate cut should be
New York Fed Pres. Williams is answering reporters questions after his speech at the New York economics club and says:Not ready to say how big first rate cut should beit's clear labor market imbalances have eased.Jobs market more consistent with pre-pandemic...
NASDAQ index leads the way to the downside
The NASDAQ index is trading to a new session low and to the lowest level going back to August 12. The move to the downside is off of mixed/weaker US jobs report. The nonfarm payroll rose less than expectations (142K vs 160K estimate) with the prior months being...
As the dust settles after the jobs reports in the US and Canada, the USDCAD is higher.
Both the US and Canadian jobs report will released today. In the US, the market is breathing a little sigh of relief in that the numbers weren't as weak as last month. The unemployment rate did tick down to 4.2% from 4.3%. In Canada, the unemployment rate moved higher...
The USDCHF moved lower/it moved higher.It is up testing 100/200 hour MAs & finding sellers
Overall for the week, the USDCHF is little changed with highs on Monday and Tuesday and the low for the week reached today on the US jobs volatility. After trading to a new low for the week (and a new low for the year too), the price of the USDCHF has snapped back...
Canada Ivey PMI 48.2 vs 57.6 prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...